Two-way trade last year reached US$125 million with Viet Nam's exports to the African country, up nearly 70 per cent over 2011. The country's key exports to the market included rice, garments and textiles, footwear, machinery and equipment, accessories and seafood.— File Photo

HA NOI (Biz Hub)— Vietnamese businesses were urged to make investments in Angola's nine key sectors, including infrastructure, processing, industry and seafood, information technology and communications, as well as hotels and tourism.

During a conference yesterday in Ha Noi, Angolan Ambassador in Viet Nam Joan Manuel Bernardo said Angola has been offering investors many incentives in an attempt to attract more investment in these targeted sectors.

Speaking at the event, Vietnamese Ambassador in Angola Do Ba Khoa highlighted opportunities and challenges awaiting Vietnamese investors in this market.

He also said the Angolan Government would speed the establishment of joint stock companies in trade, construction and heath-care sectors.

Further, bilateral relations, especially in trade and investment, have experienced encouraging growth rates over the past years.

Two-way trade last year reached US$125 million with Viet Nam's exports to the African country, up nearly 70 per cent over 2011. The country's key exports to the market included rice, garments and textiles, footwear, machinery and equipment, accessories and seafood.

In recent years, many Vietnamese firms have invested in Angola in several industries, such as oil and gas, and construction.

During the sixth session of the Viet Nam-Angola Inter-governmental Committee in Ha Noi in October, the two sides reached a consensus in boosting all-round co-operation, particularly in creating favourable conditions for enterprises in Viet Nam and Angola to seek co-operation opportunities and invest in the other country. — VNS